Wunderlich Capital Managemnt grew its position in Adobe Systems Incorporated (NASDAQ:ADBE) by 75.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,994 shares of the software company’s stock after buying an additional 3,014 shares during the quarter. Wunderlich Capital Managemnt’s holdings in Adobe Systems were worth $1,043,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ADBE. 1ST Source Bank lifted its stake in shares of Adobe Systems by 0.3% during the 2nd quarter. 1ST Source Bank now owns 1,847 shares of the software company’s stock worth $261,000 after purchasing an additional 6 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Adobe Systems by 0.6% during the 2nd quarter. Trust Co. of Vermont now owns 2,628 shares of the software company’s stock worth $372,000 after purchasing an additional 16 shares during the last quarter. Bank of Stockton lifted its stake in shares of Adobe Systems by 0.4% during the 2nd quarter. Bank of Stockton now owns 5,255 shares of the software company’s stock worth $743,000 after purchasing an additional 20 shares during the last quarter. Bienville Capital Management LLC lifted its stake in shares of Adobe Systems by 1.6% during the 2nd quarter. Bienville Capital Management LLC now owns 2,032 shares of the software company’s stock worth $287,000 after purchasing an additional 32 shares during the last quarter. Finally, FTB Advisors Inc. lifted its stake in shares of Adobe Systems by 1.2% during the 2nd quarter. FTB Advisors Inc. now owns 2,728 shares of the software company’s stock worth $395,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 87.45% of the company’s stock.

Several research analysts recently issued reports on the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Vetr raised Adobe Systems from a “buy” rating to a “strong-buy” rating and set a $198.52 target price on the stock in a research report on Tuesday, December 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $170.00 target price (up from $165.00) on shares of Adobe Systems in a research report on Wednesday, September 20th. BidaskClub lowered Adobe Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 6th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Adobe Systems in a research report on Wednesday, September 20th. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $176.50.

In related news, EVP Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $181.19, for a total transaction of $353,864.07. Following the sale, the executive vice president now directly owns 52,450 shares of the company’s stock, valued at $9,503,415.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew Thompson sold 2,190 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,849 shares of company stock worth $2,519,679. 0.38% of the stock is owned by corporate insiders.

Adobe Systems Incorporated (NASDAQ ADBE) opened at $174.31 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $85,560.12, a PE ratio of 52.28, a PEG ratio of 2.19 and a beta of 1.05. Adobe Systems Incorporated has a 1-year low of $101.91 and a 1-year high of $186.27.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, September 19th. The software company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. sell-side analysts anticipate that Adobe Systems Incorporated will post 3.46 EPS for the current fiscal year.

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Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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